SRF Shares Climb As Analysts Raise Target Prices After Q1


Shares of SRF Ltd. gained as most analysts raised their target prices for the specialty chemicals maker, citing buoyant growth outlook for the firm’s fluorospecialty chemicals business and better-than-expected margin in technical textiles and packaging films.

Key Highlights (Consolidated, YoY)

  • Net profit up 54% at Rs 608 crore

  • Revenue up 44% at Rs 3,894.72 crore

  • Ebitda at Rs 1,019.84 crore vs Rs 657.55 crore

  • Ebitda margin at 26.19% vs 24.36%

  • Interim dividend of Rs 3.60 apiece declared

Shares of SRF rose more than 5%, the most in over two weeks, as of 1:25 pm on Monday. The stock had closed 2% down after its results on Friday.

The trading volume is quadruple the 30-day average. The stock crossed over the 200-day simple moving average, indicating potential upward price momentum.

Of the 28 analysts tracking the company, 24 maintain a ‘buy’, four suggest a ‘hold’ and one recommends a ‘sell’, according to Bloomberg data. The 12-month consensus price target implies an upside of 13.8%.


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